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Interfund Premiums -- Actuarial estimates from previous fiscal year to determine $ necessary to establish a reserve for losses. It was determined that General Fund and water utility should be assessed a 6% fee of total wages/salaries.

Pub Safety 5,000,000
Gen Admin 1,500,000
Educ 1,500,000
Water Utility 2,500,000

What is journal entry?

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